Why would SER have a report written up about there company and give it a valuation

Teton have made an offer but was turned down according to the AGM

Read notes here, a short snippet taken from someone who went to the AGM read the last Paragraph

English Bigblls - 8 May'06 - 19:01 - 3 of 15471

Notes from the AGM
------------------------------

Production:
- All wells back online, current production about 180bpd
- surface equipment upgraded by adding more tanks which cost $40,000 each. They now have the capacity for a lot more production (no exact rates given)
- next step is to link up a pipeline to Tapia which will cost around $400,000 but should remove the need for any more surface tanks and allow much higher increases in production

Current trading:
- Profitable and cash-flow positive
- Weren't intending to issue a trading statement before the interims but after several people asked for one it looks like they may be going to do one.
- Interims will be out end of September / early October

Funding:
- Looking at debt financing first, banks are coming to them, someone offered them $10M a while ago but consider that too much at this time.
- Possibly going to get a JV partner later whereby an other company (maybe Teton, or other similar co's) will take a % of Tapia for X million and pay their way.
- Don't expect any institutions to buy in until the interims

- Karl Arleth had to leave because his company (Teton) made an offer for the company but they turned him down.

Now read this report, it has not been published as yet, Why??? has the company asked to have it valued for sales purposes... does sound that way to me, also there has been a lot of activity in the shares of late, before it was a dead dog.. stinks of a take over

http://www.hardmanandco.com/Research/Sefton_June_2006.pdf

ptholden
Very interesting post as you know I also hold GOO and was wondering which one to top up on, thats a good point you make about SER being a oil producer rather than an oil explorer and with a smaller M/Cap so it looks like SER has it this time round.

Thanks pth for your comments. As it so happends i also hold GOO but at a loss the now. Hopefully we will see or efforts rewarded in time!

Thanks All

pth---I had a speculative punt on SER and I hold other oilies including GOO,PET,CHP & PELE, but SER is the one with less invested and being near breakeven I now feel if there is weakness around 6-7p I will bolster my holding. Hardman report was a good read. Incidentally your 1st paragraph is spot on.
2517

Nice to see the rampers have faded away. Long may it last

Haven't looked in for a day, but I come back to find that the other SER thread has got above this one. I actually find the headers on both out of date and if there are no objections, I'll start a more current affair, including a chart or two.

Didn't see the fall yesterday, but a nice rise today to get us back to where we were.

pth

plese do pth

Are we going to close this thread and go over to pth's new thread ?